Question: (c) In undertaking hypothesis testing, there are -risks and -risks. (i) Briefly explain the distinction between these two risks. (ii) Why do we prefer low

(c) In undertaking hypothesis testing, there are -risks and -risks. (i) Briefly explain the distinction between these two risks. (ii) Why do we prefer low values for and ? (iii) For a given sample size, why is there a trade-off between and ? (iv) How could we decrease both and ? (d) Why is a "statistically significant difference" not necessarily a "practically important difference"? Use a relevant illustration to explain your answer.

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